The Raspberry Pi board plugs into a computer monitor or TV and uses a standard keyboard and mouse.

It is capable of doing everything you’d expect a desktop computer to do, from browsing the internet and playing high-definition video, to making spreadsheets, word-processing and playing games.

“At $35, the new Raspberry Pi 3 Model B offers a higher level of performance than any other Raspberry Pi board on the market,” said Claire Doyle, Global Head of Raspberry Pi at element14, in a statement.

The new Raspberry Pi 3 model is built on a new QUAD Core Broadcom processor running at 1.20GHz, a significant increase from 900MHz on the Raspberry Pi 2.

It has improved power management and an upgraded switched power source – up to 2.5 amps – to support more powerful external USB devices.

With support for Bluetooth Low Energy and wireless LAN, the Raspberry Pi 3 can support new and exciting application areas “out of the box”, such as “Internet of Things (IoT) connectivity, streaming to Bluetooth headphones or speakers, Wi-Fi gateways and home cloud storage.

“Supported by our growing accessory portfolio, the new Raspberry Pi 3 allows customers to develop specific applications and build new projects – and we can’t wait to see what customers will do with it!” Doyle added.

“The new Raspberry Pi opens up even more possibilities for IoT and embedded projects,” noted Eben Upton, CEO of Raspberry Pi Trading.